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CBRE Appointed as Sole Agent for the Tender Sale of Ground Floor Retail Shops at 6-8 Tsuen Wan Market Street

CBRE has been appointed by the owner as the Sole Agent for the public tender sale of two G/F retail shops at 6-8 Tsuen Wan Market Street. The tender will close at 12:00 noon on Friday, March 2, 2018.

The property has an aggregate area of approximately 2,000 sq. ft., including the 1,600 sq. ft. cockloft. The total space accounts for 80% undivided shares of the Lot.

Located in the heart of Tsuen Wan, the property is situated in the shopping hub of the district. Shopping centers such as KOLOUR Tsuen Wan and Tai Hung Fai (Tsuen Wan) Center are around the corner from the property, making it one of the highest footfall areas. Tsuen Wan Market Street, along with the neighboring Chung On Street, Sha Tsui Road and Chuen Lung Street, forms the Tsuen Wan Jewelry Square that harbors traditional gold shops and jewelry chains, attracting visitors from across Hong Kong.

The location is easily accessible via public transport. It is a 5-minute walk from the Tsuen Wan Railway Station and is in close proximity to the bus terminal, with minibus connections to Mong Kok, Sha Tin, Tsz Wan Shan, Hung Hom and To Kwa Wan.

“Located at the busiest area of Tsuen Wan Market Street, the disposal of the property presents a unique and rare opportunity in the market. Only a few minutes’ walk away from Lo Tak Court, the street boasts many popular eateries and is considered a shopping paradise in Tsuen Wan. The newly launched footbridge connecting Tsuen Wan West has also improved accessibility to the area,” said Freddy Wan, Director, Capital Markets, CBRE Hong Kong.

“The two shops will be sold on an as-is basis with the existing tenancy agreement. The property benefits from stable rental income as the shops are currently leased by a restaurant chain and a fashion boutique chain. Referencing the rent of shops nearby, we expect that the rate will go up and attract ample interest from investors,” Wan added.

“The shops face a zebra crossing and an extended sidewalk, allowing people to stop by and linger. The G/F stores and the 2/F cockloft are an optimal size for a variety of businesses, particularly for retailers,” said Nicola Tang, Associate Director, Capital Markets, CBRE Hong Kong.